Word's third largest crypto currency, #Ripple is now teaming up with the Bill & Melinda Gates Foundation to improve the payment solutions for the poor. According to the world bank close to 2 billion poor people today struggle with a good and feasible payment solution. It becomes difficult for conventional banks and other financial organisations to conduct operations due to low volumes, high fees and unreliable resources. Also, the complexity of the the banking operations it becomes difficult for the poor to operate use them.

Mobile wallets can be an effective, alternative solution for unbanked people, but it’s costly and complicated for banks to develop digital financial services for new markets, as well as make them inter-operable so that digital money can be exchanged as freely and fluidly as cash.

Ripple along with Dwolla, ModusBox, Software Groupand Crosslake Technologies and a strong funding from the Gates foundation is tapping this sapce. Unlike it's counterparts who are developing solutions for rich or the middle class people, Ripple sees an underlining opportunity to tap into this sector and open new door of revenues.

Ripple’s Chief Technology Officer Stefan Thomas said,

“Enabling the poor to make payments to anyone, anywhere, using a mobile wallet has implications beyond increased access to their domestic economies. It has the potential to bring millions into the fold of the global digital economy. We are honored to have been a part of this project.”

To learn more about the project, please visit: https://leveloneproject.org/.

A small glimpse of the project is shown in the following video:

This also has created some bullish price action for ripple at many exchanges.

#ripple #steem #bitcoin #crypto

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